SOUTH SAN FRANCISCO, Calif.,
July 31, 2020 /PRNewswire/ --
VistaGen Therapeutics, Inc. (NASDAQ: VTGN), a biopharmaceutical
company developing new generation medicines for anxiety, depression
and other central nervous system (CNS) disorders, today announced
it has commenced an underwritten public offering of shares of its
common stock. The offering is subject to market conditions, and
there can be no assurance as to whether or when the offering may be
completed, or as to the actual size or terms of the offering.
VistaGen currently intends to use the net proceeds from the
offering to fund continued development of its CNS pipeline
programs, and for general research and development, working capital
and general corporate purposes.
Maxim Group LLC is acting as sole book-running manager for the
offering.
The public offering is being made pursuant to an effective shelf
registration statement on Form S-3 (File No. 333-234025),
previously filed with the U.S. Securities and Exchange Commission
(SEC) on September 30, 2019 and
declared effective on October 7,
2019. The securities may be offered only by means of a
prospectus. A preliminary prospectus supplement and the
accompanying prospectus relating to and describing the terms of the
public offering will be filed with the SEC, will form a part of the
effective registration statement and will be available on the SEC's
website at www.sec.gov. When available, copies of the preliminary
prospectus supplement and accompanying prospectus relating to the
public offering may also be obtained by contacting Maxim Group LLC,
at 405 Lexington Avenue, 2nd Floor, New
York, NY 10174, Attention: Prospectus Department, [or] by
telephone at (212) 895-3745 or by email at
syndicate@maximgrp.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or other jurisdiction
in which such offer, solicitation or sale would be unlawful prior
to the registration or qualification under the securities laws of
any such state or other jurisdiction.
About VistaGen
VistaGen Therapeutics, Inc. ("VistaGen") is a clinical-stage
biopharmaceutical company developing new generation medicines for
anxiety, depression and certain CNS diseases and disorders where
current treatments are believed by VistaGen to be inadequate,
resulting in high unmet need. Each of VistaGen's three drug
candidates has a differentiated mechanism of action, an exceptional
safety profile in all clinical studies to date, and therapeutic
potential in multiple CNS markets. For more information, please
visit www.vistagen.com and connect with VistaGen on Twitter,
LinkedIn and Facebook.
Forward Looking Statements
Certain of the statements made in this press release are
forward-looking, such as those, among others, relating to our
expectations regarding the completion of the proposed public
offering. Actual results or developments may differ materially from
those projected or implied in these forward-looking statements.
Factors that may cause such a difference include, without
limitation, risks and uncertainties related to whether or not we
will be able to raise capital through the sale of shares of common
stock, the final terms of the proposed public offering, market and
other conditions, the satisfaction of customary closing conditions
related to the proposed public offering and the impact of general
economic, industry or political conditions in the United
States or internationally. There can be no assurance that we
will be able to complete the proposed public offering on the
anticipated terms, or at all. We will need to raise additional
capital to fund our operations and may be unable to raise capital
when needed, which would force us to delay, reduce or eliminate our
product development programs or commercialization efforts. You
should not place undue reliance on these forward-looking
statements, which apply only as of the date of this press
release. Certain other risks are more fully discussed in the
section entitled "Risk Factors" in our most recent annual report on
Form 10-K, as well as discussions of potential risks,
uncertainties, and other important factors in our other filings
with the SEC. Our SEC filings are available on the SEC's website
at www.sec.gov. In addition, any forward-looking statements
represent our views only as of the issuance of this release and
should not be relied upon as representing our views as of any
subsequent date. We explicitly disclaim any obligation to update
any forward-looking statements.
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SOURCE VistaGen Therapeutics